Clipper Realty Inc. · NYSE:CLPR
Clipper Realty — Q1 2026 Earnings Presentation
10 slides from Clipper Realty's earnings presentation, May 14, 2026
Slide 1: Announces First Quarter 2026 Results
Clipper Realty Inc. Announces First Quarter 2026 Results NEW YORK, May 14, 2026 /Business Wire/ -- Clipper Realty Inc. (NYSE: CLPR) (the “Company”), a leading owner and operator of multifamily residential and commercial properties in the New York metropolitan area, today announced financial and oper
Slide 2: At the 250 Livingston Street office property
● At the 250 Livingston Street office property, the principal tenant, New York City, terminated its lease in August 2025, as previously announced, with the principal remaining revenue source coming from thirty-six residential units. As a result, in the first quarter of 2026, the property generated r
Slide 3: About Clipper Realty Inc.
About Clipper Realty Inc. Clipper Realty Inc. (NYSE: CLPR) is a self-administered and self-managed real estate company that acquires, owns, manages, operates, and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brookl
Slide 4: Forward-Looking Statements
Forward-Looking Statements Various statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may include estimates concerni
Slide 5: Consolidated Balance Sheets
Clipper Realty Inc. Consolidated Balance Sheets (In thousands, except for share and per share data) December 31, March 31, 2026 2025 (unaudited) ASSETS Investment in real estate Land and improvements $ 559,419 $ 559,419 Building and improvements 838,742 836,437 Tenant improvements 6,386 6,386 Furnit
Slide 6: Consolidated Statements of Operations
Clipper Realty Inc. Consolidated Statements of Operations (In thousands, except per share data) (Unaudited) Three Months Ended March 31, 2026 2025 REVENUES Residential rental income $ 31,904 $ 29,190 Commercial rental income 6,211 10,208 TOTAL REVENUES 38,115 39,398 OPERATING EXPENSES Property opera
Slide 7: Consolidated Statements of Cash Flows
Clipper Realty Inc. Consolidated Statements of Cash Flows (In thousands) (Unaudited) Three Months Ended March 31, . 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES Net loss $ (11,144 ) $ (35,103 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation 7,944 7,611
Slide 8: Reconciliation of Non-GAAP Measures
Clipper Realty Inc. Reconciliation of Non-GAAP Measures (In thousands, except per share data) (Unaudited) Non-GAAP Financial Measures We disclose and discuss funds from operations (“FFO”), adjusted funds from operations (“AFFO”), adjusted earnings before interest, income taxes, depreciation and amor
Slide 9: FFO
Three Months Ended March 31, 2026 2025 FFO Net loss $ (11,144 ) $ (35,103 ) Real estate depreciation and amortization 7,979 7,636 FFO $ (3,165 ) $ (27,467 ) AFFO FFO $ (3,165 ) $ (27,467 ) Amortization of real estate tax intangible 120 120 Straight-line rent adjustments (197 ) 22 Amortization of deb
Slide 10: Net Operating Income
Net Operating Income We believe that NOI is a useful measure of our operating performance. We define NOI as income from operations plus real estate depreciation and amortization, general and administrative expenses, acquisition and other costs, transaction pursuit costs, amortization of identifiable